The index was compiled by business leaders, academics and risk analysts to see which states were the least and most corrupt.

The index lists countries in terms of the degree to which corruption is perceived to exist among public officials and politicians.

The highest scoring country was Finland with a score of 9.7 out of a possible perfect 10. Four EU-25 countries were placed in the top 10, with the UK and the US surprisingly lagging in 11th and 17th. Haiti and Bangladesh propped up the leaderboard in joint bottom place.

Malta ranked 25th, scoring higher than all the other nine newly acceded European Union states, with a score of 6.8 out of a possible 10.

In fact, Malta scored better than three EU-15 members – Portugal in 27th place with a score of 6.3, Italy 42nd with a rating of 4.8, and Greece in 49th with a rating of 4.3.

Malta also fared better than countries such as Israel in 26th place, with a score of 6.4, and the United Arab Emirates in 29th with a score of 6.1.

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Malta came just one place lower than Japan (6.4), two places below France and Spain (both 7.1) and five places below the USA which finished in 17th place with a score of 7.5.

EU applicants Bulgaria, Croatia, Turkey and Romania came in at 54th, 67th, 77th and 87th place respectively.

The following are the top 25 countries and the bottom five, ranked according to their score out of a possible perfect 10.

Top 25

1: Finland, 9.7

2: New Zealand, 9.6

3: Denmark, Iceland, 9.5

5: Singapore, 9.3

6: Sweden, 9.2

7: Switzerland, 9.1

8: Norway, 8.9

9: Australia, 8.8

10: Netherlands, 8.7

11: United Kingdom, 8.6

12: Canada, 8.5

13: Austria, Luxembourg 8.4

15: Germany, 8.2

16: Hong Kong, 8.0

17: Belgium, Ireland, USA, 7.5

20: Chile, 7.4

21: Barbados, 7.3

22: France, Spain, 7.1

24: Japan, 6.9

25: Malta, 6.8

Bottom five

142: Chad, Myanmar, 1.7

144: Nigeria 1.6

145: Haiti, Bangladesh 1.5